Insider Buying: Polaris Renewable Energy Inc. (TSE:PIF) Director Purchases 41,500 Shares of Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan purchased 41,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average price of C$12.49 per share, with a total value of C$518,413.85.

Polaris Renewable Energy Price Performance

PIF stock traded down C$0.13 during trading hours on Thursday, hitting C$12.56. 16,723 shares of the stock traded hands, compared to its average volume of 45,246. The stock has a 50-day simple moving average of C$12.35 and a 200 day simple moving average of C$12.52. Polaris Renewable Energy Inc. has a one year low of C$11.08 and a one year high of C$14.14. The company has a market cap of C$264.76 million, a P/E ratio of 25.38, a P/E/G ratio of 3.28 and a beta of 0.97. The company has a current ratio of 1.86, a quick ratio of 1.64 and a debt-to-equity ratio of 62.63.

Polaris Renewable Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be paid a dividend of $0.203 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.81 annualized dividend and a yield of 6.46%. Polaris Renewable Energy’s dividend payout ratio is currently 164.00%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PIF. National Bankshares increased their target price on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Raymond James increased their price target on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 1st.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.